Envisioning a dream home with curb appeal and character?
Look no further than the plethora of historic homes scattered across the island.
With a deep history in the Navy, and an architectural arena that envies the Victorian style architecture of the Hotel del Coronado, the island is saturated with homes that have both historic significance and unique character.
Only 216 historic homes on Coronado
According to the City of Coronado Register of Historic Resources, which consists of buildings, structures and sites that have been historically designated by the Coronado Historic Resource Commission, 216 homes are listed on the historic resource register.
Not just any home can be considered “historic,” however, According to Rocket Mortgage, a historic home needs to be at least 75 years old and fill one of these four criteria:
It needs to be connected to a significant, historical event, connected to the lives of significant individuals, embodying a particular historic style, or providing important historical information.
Benefits of buying a historic home
Let’s take a look at the benefits and downsides to buying historic homes.
On the upside, a historic home is one of a kind. You won’t find the endearing character and unique wooden detailing in a modern, newly built property.
By purchasing a historic home, you will also be committing to a community committed to preservation, especially if you register your home for the Mill’s Act.
With the extra upkeep in preserving your property, you could be eligible for a 40% to 50% reduction with this act.
The possibility of reduced property taxes should be weighed against the more complicated aspects to keep in mind.
Get a home inspection
Primarily, with a historic home, there is potential to have increased work in renovations and upkeep, especially with the amplified attention to stricter regulations that are compatible with historic sensitivity.
Before you purchase a historic home, be sure to get a home inspection, as older homes are more likely to have issues that are not as transparent.
Be sure to reach out to me at (619) 568-0568 or info@simonerealestategroup.com with more information on how to purchase a historic home, as the market is competitive.
As a trusted and experienced real estate agent in your area, I understand the buying and selling arena and am here to answer any questions you may have.
Have a topic for a future article? Let us know what you would like to see next at info@simonerealestategroup.com
